boss of austrias omv to step down earlier after share plunge
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Boss of Austria's OMV to step down earlier after share plunge

Arab Today, arab today

Arab Today, arab today Boss of Austria's OMV to step down earlier after share plunge

Gerhard Roiss
Vienna - AFP

 Austrian oil and gas firm OMV Tuesday said its chief executive, Gerhard Roiss, will step down in June next year -- earlier than planned -- after the company's shares lost more than a quarter of their value over three months.
"Today, the supervisory board of OMV Aktiengesellschaft and Gerhard Roiss have agreed that Gerhard Roiss resigns from his position as chairman of the executive board and CEO as of June 30, 2015," a statement said.
It said the company had "initiated the process to identify suitable candidates for the succession as CEO of OMV".
The decision was announced after a 10-hour meeting of the board.
OMV shares have fallen sharply on the Vienna stock exchange since July, from 33 euros to 24 euros at the end of trade on Tuesday.
In the first half of 2014, OMV's net profits fell by 25 percent due to lower refining margins, a weaker US dollar and political instability in Libya and Yemen.
It recorded net profits of 1.16 billion euros ($1.47 billion) in 2013, a 15 percent drop over the previous year. But turnover was stable at 42.41 billion euros.
The Austrian government holds a 31.5 percent stake in the company while the Gulf state of Abu Dhabi is the second-largest shareholder with 24.9 percent equity.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

boss of austrias omv to step down earlier after share plunge boss of austrias omv to step down earlier after share plunge

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

boss of austrias omv to step down earlier after share plunge boss of austrias omv to step down earlier after share plunge

 



GMT 12:23 2017 Wednesday ,27 September

US environmental lawyer wins Swedish rights prize

GMT 06:27 2017 Wednesday ,29 March

Amazon expands global reach with Souq.com buy

GMT 20:55 2017 Saturday ,21 January

Netanyahu stresses to Iranians “we are friends”

GMT 19:48 2017 Sunday ,22 January

At Least 27 Dead as Train Derails in South India

GMT 22:17 2017 Friday ,11 August

Regional security situation discussed
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday